1. Opening Hook
As India debated whether weddings are recession-proof, Raymond’s management quietly nodded — “Yes, especially ours.” While the world worries about wars and tariffs, the team at Raymond is fighting a fiercer battle: keeping Indian men fashionable beyond one kurta and a sherwani.
Like the Bible reminds us, “Man shall not live by bread alone.” At Raymond, it’s fabric, fit, and festive fervor. Stay tuned — the real drama unfolds when Ethnix meets economics.
2. At a Glance
- Revenue ₹1,865 Cr (+8%) – Tailored growth, no alteration needed.
- EBITDA ₹259 Cr (+7%) – Margins stitched neatly at 13.9%.
- Branded Textile +10% – Suits the season, quite literally.
- Branded Apparel +11% revenue, margins fell to 5% – Fashion’s expensive hobby.
- Garmenting +4%, margins halved – Tariff tantrums from Uncle Sam.
- Net Debt ₹246 Cr – Debt trimmed, but not hemmed out.
- Stores 1,663 (up 71) – Expansion spree, exits included.
3. Management’s Key Commentary
“Q2 was our highest second-quarter revenue ever.”
(Translation: We’ve stopped bleeding, now just bruising slightly.)
“Domestic demand remains resilient amid international headwinds.”
(Translation: Indians still shop for weddings, Americans not so much.)
“EBITDA margin improved to 13.9% despite higher ad spend.”
(Translation: Thank Diwali discounts for saving grace.) 😏
“Garmenting margins hit by U.S. tariffs.”
(Translation: Uncle Sam stitched a hole in our profits.)
“Ethnix store rationalization continues.”
(Translation: Too many sherwanis, too few shaadis.)
“Our focus is volume-led growth with operational efficiency.”
(Translation: We’ll sell more stuff, cheaper, and call it strategy.)
“Innerwear and sleepwear will take time to build.”
(Translation: India isn’t ready to sleep stylishly yet.)
“Marketing spend up 30–35% YoY; will rise another 25% in H2.”
(Translation:
